{"identifier":"/us/usc/t12/s1814","title":12,"num":"\u00a7\u202f1814.","heading":"Insured depository institutions","text":"\u00a7\u202f1814.\nInsured depository institutions\n(a)\nContinuation of insurance\n(1)\nBanks\nEach bank, which is an insured depository institution on\nSeptember 21, 1950\n(2)\nSavings associations\nEach savings association the accounts of which were insured by the Federal Savings and Loan Insurance Corporation on the day before\nAugust 9, 1989\n(b)\nContinuation of insurance upon becoming a member bank\nIn the case of an insured bank which is admitted to membership in the Federal Reserve System or an insured State bank which is converted into a national member bank, the bank shall continue as an insured bank.\n(c)\nContinuation of insurance after conversion\nSubject to\n(1) any State depository institution which results from the conversion of any insured Federal depository institution; and\n(2) any Federal depository institution which results from the conversion of any insured State or Federal depository institution,\nshall continue as an insured depository institution.\n(d)\nContinuation of insurance after merger or consolidation\nAny State depository institution or any Federal depository institution which results from the merger or consolidation of insured depository institutions, or from the merger or consolidation of a noninsured depository institution with an insured depository institution, shall continue as an insured depository institution.","url":"https://projectusc.org/usc/t12/s1814.html","content":[{"t":"sec","id":"/us/usc/t12/s1814","children":[{"t":"num","text":"\u00a7\u202f1814."},{"t":"heading","text":"Insured depository institutions"},{"t":"subsec","id":"/us/usc/t12/s1814/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Continuation of insurance"},{"t":"para","id":"/us/usc/t12/s1814/a/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"Banks"},{"t":"content","children":[{"t":"p","text":"Each bank, which is an insured depository institution on ","children":[{"t":"text","text":"September 21, 1950","tail":", shall be and continue to be, without application or approval, an insured depository institution and shall be subject to the provisions of this chapter."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s1814/a/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Savings associations"},{"t":"content","children":[{"t":"p","text":"Each savings association the accounts of which were insured by the Federal Savings and Loan Insurance Corporation on the day before ","children":[{"t":"text","text":"August 9, 1989","tail":", shall be, without application or approval, an insured depository institution."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s1814/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Continuation of insurance upon becoming a member bank"},{"t":"content","children":[{"t":"p","text":"In the case of an insured bank which is admitted to membership in the Federal Reserve System or an insured State bank which is converted into a national member bank, the bank shall continue as an insured bank.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s1814/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Continuation of insurance after conversion"},{"t":"chapeau","text":"Subject to ","children":[{"t":"ref","text":"section 1815(d) of this title","href":"/us/usc/t12/s1815/d","tail":" and "},{"t":"ref","text":"section 1464(i)(5) of this title","href":"/us/usc/t12/s1464/i/5","tail":"\u2014"}]},{"t":"para","id":"/us/usc/t12/s1814/c/1","children":[{"t":"num","text":"(1)"},{"t":"content","text":" any State depository institution which results from the conversion of any insured Federal depository institution; and","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s1814/c/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" any Federal depository institution which results from the conversion of any insured State or Federal depository institution,","tail":"\n"}],"tail":"\n\n"},{"t":"continuation","text":"shall continue as an insured depository institution.","tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s1814/d","children":[{"t":"num","text":"(d)"},{"t":"heading","text":"Continuation of insurance after merger or consolidation"},{"t":"content","children":[{"t":"p","text":"Any State depository institution or any Federal depository institution which results from the merger or consolidation of insured depository institutions, or from the merger or consolidation of a noninsured depository institution with an insured depository institution, shall continue as an insured depository institution.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}